The aim of this taping is to protect the areas of the foot which are prone to blisters. Preventing blisters by far the best cure!
Above is a video demonstration of a taping recommended for a full days walking in boots over hills. For lesser events you may decide to only apply tape where you know it will be required such as at the back of the heel, or around a single toe. Check you are not allergic to zinc oxide tape before applying.